Bookkeeping & Payroll Services for Small Businesses

  Outsourcing bookkeeping services to a third party can make business decisions easier. It allows a management team to focus on the goals and strategies of the business instead of trying to juggle a large number of tasks. Outsourcing firms have a centralized office that can access data anytime, from any location, and through any device. By leveraging the cloud, outsourced bookkeeping providers can also deliver timely books to management teams that will help them make better, more informed decisions. One of the benefits of outsourcing your bookkeeping to a third party is that it saves you money. Hiring an in-house bookkeeper is expensive because you have to pay their salary, workers’ compensation, and medical insurance. Not only is hiring an in-house bookkeeper expensive, but it also requires your time. You can also benefit from labor cost arbitrage savings by outsourcing your bookkeeping to a third party. Outsourcing your bookkeeping tasks frees up your time for high-margin activ...

  What is an e-invoice? Electronic invoicing (or e-Invoicing) is the automated digital exchange of invoice information between suppliers’ and buyers’ software through a secure network. An electronic invoice is a PDF or similar document that contains information about the products and services you have sold. It has all your company’s contact details, including name, address, phone number and email address. Often these documents are generated automatically by accounting software on receipt of payment from your customer. Australia has adopted the Peppol framework as the common standard for e-Invoicing. Peppol e-Invoicing is a new channel that is a more efficient, accurate and secure way to transact with your suppliers and buyers than PDF and email. What is not considered an e-invoice? An electronic invoice does not include any signature or handwritten annotations that are required for certain tax purposes. For this reason, it may be necessary to issue paper invoice...

  When you’re looking after a portfolio of small business clients, you need to be able to trust the financial reports you are given. Accurate accounts come from an experienced bookkeeper which for many clients means you may have to  outsource bookkeeping services  from time to time. Bookkeeping involves tracking financial transactions and it includes the recording of every single transaction and can save a lot of your time. If your accounting firm outsources bookkeeping, you want to be sure that it is in safe hands. A widespread problem faced by most accounting firms is that bookkeeping tasks are often delegated to their junior who have no formal training or experience in accounting software. If you are running an accounting firm, you will appreciate that it is extremely important to ensure that you get more high value work and the information reflected in the books is accurate for better financial decisions. Often, we see teams juggling between different projects simul...

  Xero is a cloud-based accounting solution that can be used for both business and personal use. This powerful software allows you to easily manage your finances and can help you avoid costly errors. Unlike paper-based bookkeeping, Xero allows you to compare recorded data to the original and even chase payments for late fees. Another important benefit of Xero is the collaboration it allows you to have with colleagues. With Xero, two people can work together to enter and update information without having to send documents. Xero bookkeeping is a powerful accounting program for small businesses. If you are a larger company that needs more complex features, Xero can integrate with over 1000 specialty apps as listed in their app store. By connecting your business bank account via bank feeds to xero saves a huge amount to time in data entry. Once you’ve completed this process, you can use the Xero Dashboard to view your business’s financial metrics. You can see how profitable your bu...

  Finding a reliable bookkeeping service can be tricky. You need to consider pricing, location, and the type of work they will do for you. Read these 3 tips for finding a reliable bookkeeping service to help you find one today! Finding a Reliable Bookkeeping Service Finding a reliable bookkeeping service can be challenging, but there are some helpful tips you can use to find one. You should take the time to read through reviews of the companies to make sure they are reputable. It is also important to get referrals from people who have used their bookkeeping services in the past. Once you find a few candidates, make sure to interview them and ask questions about how they would handle your business’s needs. Ask The Right Questions to Find a Reliable Bookkeeper One of the most important aspects of finding a bookkeeper is asking the right questions. The first question you need to ask is how much experience they have. Another important question is whether they are certified and ...